Speculation that Russia may soon issue a large-scale mobilization order to replenish its forces is driving a growing number of Russians to seek housing outside the country.
Long-term apartment rental demand in Tbilisi, the capital of Georgia — which borders Russia — rose 20 to 30 percent compared with the same period last year through early this month, according to investigative outlet iStories and Yonhap.
Real estate agents said the increase appears to stem not only from seasonal factors but also from anxiety among Russians over the prospect of a new mobilization order.
Vladimir, who runs a large residential rental agency in Tbilisi, said demand typically picks up in summer due to vacations and school breaks, and that most of his Russian customers have long been living abroad in places like Georgia. "Some have started looking for apartments because of the mobilization rumors," he said.
He added that the situation is entirely different from early 2022, when Russians fled to Georgia en masse immediately after Russia invaded Ukraine. "So many foreigners already live here that it has become hard to find an apartment, and even though construction continues, the market cannot keep up with demand," he said.
Industry insiders said rental demand in Yerevan, the capital of neighboring Armenia, has also risen by around 25 to 35 percent.
In Tbilisi, average rents — which had fallen sharply through 2024 and 2025 — climbed this summer to $12.3 per square meter, up $2.1 from earlier levels. In Yerevan, prices are approaching the levels seen in the summer of 2022, when real estate costs spiked immediately after the outbreak of the war in Ukraine.
husn7@heraldcorp.com
